RealNetworks Buys Stake in SK Telecom's LoEn Music Unit

Authored by Mark Hefflinger on February 17, 2009 - 9:34am.

Seattle - RealNetworks (NASD: RNWK) announced on Tuesday that it has paid an undisclosed sum for a minority stake in LoEn, the digital music unit of South Korean wireless carrier SK Telecom.

Real also extended its contract to provide music-related services to SK Telecom, which it has done since 2001, through 2011.

Formerly known as Seoul Records, LoEn was acquired by SK Telecom in 2005.

RealNetworks plans to launch a number of new services for LoEn customers, including mobile music on-demand and ringback tones.

Related Links:
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http://www.sktelecom.com